The Latin America, Middle East and Africa Hydroponics Market would witness market growth of 22.9% CAGR during the forecast period (2021-2027).
High capital expenditure for large-scale farms, for example, is constraining market expansion. A hydroponic farm's main cost elements are HVAC systems, ventilation, irrigation systems, fans, control systems, railways, and lighting, among others. Furthermore, in developing nations, a lack of government regulation and tax incentives, as well as the spread of waterborne infections and algae in closed systems, are possible limitations to the worldwide hydroponics market's overall growth.
Hydroponics is a gardening technique in which plants are cultivated in an aqueous solution without the need of soil. Hydroponic vegetables, which are a subgroup of hydroculture, require less fertiliser, water, and land, and as a consequence, there has been a significant increase in hydroponic vegetable output. All around world, there has been an increase in demand for crops grown in a controlled setting.
Food insecurity is a major issue in the Middle East, due to agricultural inefficiency caused by a lack of water and fertile land, as well as harsh weather conditions. According to a current UN Food and Agriculture Organization estimate, approximately 51 million people in Arab countries are hungry. Furthermore, in 2020, the Middle East (including North Africa) represented for 20% of the world's inhabitants who were food insecure. Meeting growing demand with traditional agricultural techniques in such a setting may result in fierce competition for natural resources. The region is expected to become warmer and drier in the future as a result of ongoing climate change dynamics.
Moreover, the Middle East is the world's most water-stressed area, with severe land limits that severely limit its food production. The UAE, Kuwait, Bahrain, Qatar, and Palestine, according to the World Resources Institute, will be the world's most water-stressed countries by 2040. This is projected to have a significant impact on food insecurity and the reliance on imports.
The Brazil market dominated the LAMEA Hydroponics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $215.1 million by 2027. The Argentina market is exhibiting a CAGR of 23.6% during (2021 - 2027). Additionally, The UAE market would showcase a CAGR of 22.6% during (2021 - 2027).
Based on Type, the market is segmented into Aggregate Systems and Liquid Systems. Based on Crops, the market is segmented into Tomatoes, Lettuce, Peppers, Cucumbers, Herbs, Fruits, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Hydroponics Market is Predict to reach $13.4 Billion by 2027, at a CAGR of 19.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Argus Control Systems Limited, The Scotts Miracle-Gro Company, American Hydroponics, LumiGrow, Inc., Emerald Harvest, Hydroponic Systems International, Hydrofarm Holdings Group, Inc., HydroGarden Ltd., Signify N.V., and Heliospectra AB.
By Type
By Crops
By Country
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